ClearFlow Metalworks plans to invest $28 million in a new aluminum manufacturing facility in Russellville, Kentucky, marking an expansion of secondary aluminum production in the United States. The project is expected to create 50 full-time jobs, with its first phase designed to deliver an estimated annual production capacity of approximately 100,000 tons. The company, which focuses on sustainable aluminum recycling and production, will develop the facility in phases. Phase I will feature a secondary aluminum billet casting operation, processing recycled aluminum materials into billets for extrusion and other downstream manufacturing applications. The project will establish ClearFlow's manufacturing presence in the U.S. and support domestic demand for aluminum products while expanding...
Shareholders of Slovenia's Impol 2000 are set to consider a proposal to bring the company's shares onto a regulated market, potentially opening up trading opportunities while introducing tighter corporate disclosure requirements. The proposal will be discussed at a shareholders' meeting scheduled for December 3. Impol 2000, which owns Impol Group, the country's largest producer of aluminium semi-finished products, says the move is intended to improve the ease and speed of share transactions. However, entering the regulated market would also require the company to meet additional transparency standards and comply with rules governing related-party transactions. As of October 29, Impol 2000 had 1,066,767 ordinary, freely transferable, registered no-par value shares. Of these, 979,887...
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A00 aluminium ingot price registered a decrease of RMB 160 per tonne from Thursday’s price of RMB 14530 per tonne. The price now stood at RMB 14370 per tonne on Friday, 17 July 2020 and is expected to move within a range of RMB 14350-14390 per tonne. In Foshan and Wuxi, the price dropped by RMB 170 per tonne and RMB 140 per tonne to stand at RMB 14300 per tonne and 14380 per tonne. Their average prices are expected to range within RMB 14280-14320 per tonne and RMB 14370-14390 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14410 per tonne and 14240 per tonne, down RMB 130 per tonne and RMB 70 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 14315 per tonne, RMB 14380 per tonne, RMB 14370 per tonne, and RMB 14270 per...
The European manufacturing and technical headquarters for Banyard, Inductotherm Heating & Welding Ltd, has prevailed their gratification post the full acceptance to the production of Banyard Aluminium Billet Induction Boost Heater at the Hydro Extrusion plant, Cressona, USA. Patronising the thorough prosperous installation of this system at Hydro Tonder in Denmark in 2019, Hydro Extrusion acknowledged the remarkable production utility that this additional installation would bring to their plant in the United States. The system integrates the innovative Banyard LFi 800kW Smart System in concurrence with a Multi-Zone Coil Induction Boost Heater for 10” Aluminium billets and zero friction handling system and is adaptable with a second unit, as planned production escalates. The UK based...
The US dollar rose on Thursday, July 16, while global stocks fell, as investors reacted to a mixed batch of economic data out of China and the US. The US dollar index, which measures the currency against a basket of rivals, gained 0.29 per cent to 96.250, after four consecutive days of losses. Three-month LME aluminium fell for a third straight day on Thursday, shedding 0.6 per cent to US$1,668.5 per tonne. It is likely to move between US$ 1,650-1,690 per tonne today. As of Thursday, July 16, LME aluminium cash (bid) price and LME official settlement price sharply declined by US$ 24 per tonne from US$ 1651 per tonne on July 15 to US$ 1627 per tonne. 3-months bid price and 3-months offer price stood at US$ 1660.50 per tonne, down by US$ 25.5 per tonne from US$ 1686 per tonne on the...
Natia Turnava, Minister of Economy and Sustainable Development of Georgia, officially opened a Koc Kablo’s new enterprise of aluminium and copper wires in Tbilisi. Over 100 people have been employed and 15 million GEL has been invested in the enterprise established by the Turkish company Koç Kablo with the support of the Enterprise Georgia supporting program. Natia Turnava said: “New enterprise is high-tech and competitive, and which is most important, it exports its products. The enterprise was established with the support of the state within the framework of the program Enterprise Georgia, and although it is newly opened, at this stage, it already employs 100 people while in the future, this figure will practically double. This is a foreign direct investment made by one of the strongest...
The flagship company of Manaksia Group, Manaksia Aluminium Company Limited informed the bourses on 16 th July’20 that profitability for the first quarter of FY21 will have a minor impact and the company will focus to return to a profitable level from Q2 onwards. The company is reconditioning its debts regularly and meeting financial commitments. There is no significant change in the value of current and non-current assets of the company due to Covid-19. The supply chain of the company was severely impacted during the initial two months of the lockdown but it is now regaining and it expects 100% restoration of a supply chain with in the next two months. The company has requisite financial resources to cover its capital requirements. However, the company has applied for COVID-19 related...
Multi-award winning fashion accessories brand Elvis & Kresse is reportedly working with a group of researchers from Queen Mary University of London’s School of Engineering and Materials Science on a project to recycle aluminium drink cans into zips and buckles, in a bid to drive forward sustainable innovation within the fashion industry. Elvis and Kresse, which is known to transform reclaimed material into luxury lifestyle accessories, looks forward to recycle some of the millions of aluminium cans, hoping to provide a green solution for aluminium can recycling that otherwise litters the United Kingdom each year. This project has been funded as part of a £1.2 million (US$1.5m) award from the Business of Fashion, Textiles and Technology (BFTT) programme. It will involve designing and...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower, albeit at a slower pace. Inventories stood 708,000 tonnes as of Thursday July 16, down 4,000 tonnes from last Thursday July 9. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Shanghai, in Gongyi and Linyi dropped by 3,000 tonnes, 5,000 tonnes and 1,000 tonnes to stand at 106,000 tonnes, 42,000 tonnes and 6,000 tonnes on Thursday, 16 July 2020. Stocks in Wuxi, Hangzhou and Chongqing remained unchanged at 216,000 tonnes, 100,000 tonnes and 4,000 tonnes. Inventories of aluminium in Nanhai and Tianjin stood at 175,000 tonnes and 59,000...
Aluminium billet inventories in China have continued to shrink over the week ending on Thursday, July 16, marking the second consecutive week-on-week fall, found Shanghai Metals Market. According to SMM, aluminium billet inventories today have declined due to high deliveries amid limited arrivals of stocks. The inventories of 6063 aluminium billets have decreased by 7,300 tonnes from the week earlier to stand at 65,000 tonnes. Week-on-week, the decline has expanded by 6,300 tonnes from the earlier drop of 900 tonnes on July 6 to come in at 72,300 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan, the aluminium billet inventories have declined by 4,100 tonnes to stand at 20,600 tonnes, while that in Wuxi and...
The CANPACK Group, a global packaging manufacturer with its headquarters in Krakow, Poland, and GIORGI GLOBAL HOLDINGS, INC., based in Blandon, Pennsylvania, and owner of the CANPACK Group, jointly announced that CANPACK will build aluminium beverage can body and ends manufacturing plant, its first in the United States. The company will also construct a North American Center of Excellence demonstrating CANPACK’s R&D and lithographic capabilities. CANPACK also announced the acquisition of an industrial property in Olyphant, Pennsylvania. This facility is likely to be built and functional by the fourth quarter of 2021 and will employ over 400 people. “Since we first invested in CANPACK over 30 years ago, it has grown from a single steel food can manufacturing site in Poland to a true...
The Australian Government will invest $87 million towards improvising facilities at the joint US-Australian Space Surveillance Telescope, Naval Communications Station Harold E. Holt in Exmouth, on the tip of the North West Cape in WA. Linda Reynolds, Minister for Defence, during a visit to the facility in Exmouth said: “The significant investment will be used to build a new mirror recoating facility.” Minister Reynolds said: “As recently announced in the Defence Strategic Update and Force Structure Plan, the Government is significantly increasing investment in Defence’s space capabilities with $7 billion being invested over the next decade.” “This world-leading, 360-degree telescope enables the defence to track better and identify objects and threats in space including space debris, as...
The economy of Italy is the 3rd-largest national economy in the European Union, the 8th-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). Italy has a major advanced economy and is a founding member of the European Union. Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies. The European nation’s export of aluminium stranded wires during 2017-19 exhibited volatility, as the volume of the export, was recorded at 6608 tonnes and revenue earnings stood at $28.06 million. The projected export for 2020 has remained at 1937 tonnes and the earning expected to reach $8.46 million. Furthermore, when the analysed export volume and earning of 2020 get merged with the previous three years it displays 8545...
Alcoa Corporation announced second quarter 2020. The company reported improved productivity and continued operational stability during the COVID-19 pandemic. Alcoa said all of its global operations have maintained production without interruption. Alcoa’s overall third-party aluminium shipment volume increased approximately 9 percent, primarily due to the continued progress of the Aluminerie de Bécancour Inc. (ABI) smelter in Quebec, Canada restart. Third-party alumina shipments rose approximately 2 percent, compared with first quarter 2020 shipment volume. “I am proud of our global team’s resolve in facing challenges created by the pandemic, focusing first on protecting people,” said President and Chief Executive Officer Roy Harvey. “We acted early to implement comprehensive measures to...
According to the US Geological Survey, the United States’ aluminium crude metals and alloys imports from Canada surged by 40 per cent month-on-month in March 2020. From 145,000 tonnes in February, the US aluminium crude metals and alloys imports jumped to 203,000 tonnes in March, found the data. In January, the country had imported 213,000 tonnes of aluminium extrusion products, meaning February saw a month-on-month downfall of 31.92 per cent. The imports in January were also down from its previous month from 229,000 tonnes to 213,000 tonnes. The data thereby indicates a rise in March imports after two consecutive months of decline. On a year-on-year basis, the US imports in March 2020 saw a hike of 49.26 per cent from 136,000 tonnes. The United States accumulative aluminium extrusion...
Altech Chemicals Limited executed an option to purchase agreement for a ~10 hectare industrial site within the Schwarze Pumpe Industrial Park, municipality of Spreetal, Saxony, Germany. The company had received an official invitation from the State Government of Saxony in September 2019 to consider building its next high purity alumina (HPA) plant in Saxony. The company will have access to the site for planning and assessment purposes during the option period. Altech is investigating the site as a preferred location for a second HPA plant, specifically to service forecast demand for HPA from Europe’s burgeoning electric vehicle and renewable energy battery sectors, Altech said. Managing director, Iggy Tan said: “whilst we have been focussed on completion of finance and the continuation of...
The US dollar declined to the lowest level in nearly five weeks. LME aluminium shed 0.24% and SHFE aluminium dropped 1.24%. Three-month LME aluminium recovered from a session low of US$1,673 per tonne, ending last night at US$1,678.5 per tonne. LME aluminium is expected to trade between US$1,660-1,700 per tonne today. As of Wednesday July 15, LME aluminium cash (bid) price stands at US$ 1651per tonne, LME official settlement price stands at US$ 1651 per tonne; 3-months bid price stands at US$ 1686 per tonne, 3-months offer price is US$ 1686 per tonne; Dec 21 bid price stands at US$ 1771.50 per tonne, and Dec 21 offer price stands at US$ 1771.50 per tonne. The LME aluminium opening stock stood at 1663800 tonnes. Live Warrants totalled 1405725 tonnes, and Cancelled Warrants were 258075...
Deputy Prime Minister of New Zealand Winston Peters is determined to continue fighting for the Tiwai Point aluminium smelter. He said in a meeting on Thursday morning, “I began saying this in 2011 and I’m saying it now stronger than ever that this enterprise has got to be saved.” He has been supporting the idea of a Tiwai worker/management buy-out for almost last 10 year. In 2011, he told the Tiwai workers ‘you guys are going to have to shape up and save yourselves, because you are being taken for a ride by the owners,’ upon his visit to the smelter. But the union delegate and Tiwai staff member Cliff Dobbie said there was no chance of a management or worker buyout. He said the concept had not been brought up with staff and wouldn't be economically viable. The meeting is being attended by...
Alcoa has affirmed to take its fight with the Australian Taxation Office to the Supreme Court. The behemoth organization stated clearly that it does not feel bound by BHP's decision to settle a transfer pricing dispute in 2018. The ATO strengthened its investigation into Alcoa's sales of Australian alumina earlier this month, asserting the company owed $921 million once interest on unpaid taxes was included. On 9 th July’20, Alcoa’s CEO Roy Harvey was inquired by the investors whether BHP's $529 million settlement over its Singapore hub had created an exemplar that reduced Alcoa's chances of victory in the ATO contention. Roy was logical to say: ''Each case its own set of specific circumstances.” “BHP's settlement has been related to iron ore sales to a Singapore subsidiary, while Alcoa's...
According to the Shanghai Metals Market, the A00 aluminium ingot price has expanded its downfall than the previous day by about RMB 170 per tonne to stand at RMB 14,530 per tonne, as of Thursday, July 16. Yesterday, the price fell by RMB 120 per tonne, and today, it declined by RMB 290 per tonne. The average prices are expected to range between RMB 14,510 per tonne and RMB 14,550 per tonne, with spot contract to be traded at a premium price RMB 230-270 per tonne, up by RMB 250 per tonne, following a restraint last day. The growth in spot aluminium premiums could be attributed to the enthusiastic purchase by downstream consumers to replenish their stocks due to the lowering trend of the primary aluminium price. Today, Chongqing has seen the highest downfall in the aluminium ingot price of...
